Home ICO Global Coffee prices rise 7.1% in June: ICO

Global Coffee prices rise 7.1% in June: ICO

The International Coffee Organisation (ICO) in its coffee market report, said that the composite price of coffee averaged US $99.97 cents/lb (0.45kg) in June 2019, 7.1% higher than in May 2019.

According to the report, that was the first increase in the monthly average since January 2019, when prices rose by 0.9% to US $101.56 cents/lb.

The reports says daily composite indicator ranged between US $95.17 cents/lb on 18 June and US $105.25 cents/lb on 28 June. “The daily price rose above 100 US cents/lb for the first time since 18 February 2019 on 30 May and remained above that level on 9 out 20 days during the month of June,” it says.

In May 2019, world coffee exports rose by 19.4% to 11.6 million bags compared to May 2018, it says. The growth, according the report, was led by shipments of Brazilian Naturals coffee type, which rose by 65.4% to 3.5 million bags. However, in May 2018, shipments from Brazil were well below expectations due to a nationwide trucking strike that delayed delivery of coffee to ports.

Brazil’s May exports averaged 2.73 million bags from 2013 to 2017.

Exports of Robusta grew by 8.3% to 4.05 million bags in May 2019 compared to the same month one year ago.

Significant growth in Robusta shipments from Brazil, where exports of green Robusta rose from 46,621 bags to 376,257 bags as well as increases in exports from Tanzania and Uganda offset the 5.1% decline in Vietnam’s green Robusta shipments.

Exports of Colombian Milds grew by 6.1% to 1.15 million bags while Other Milds increased by 4.4 per cent to 2.9 million bags.

Meanwhile the report says global exports in the first eight months of coffee year 2018/19 reached 86.57 million bags, an increase of 7.5% compared to the same period one year ago.

Shipments of Brazilian Naturals rose by 21.9% to 28.22 million bags while Colombian Milds increased by 6.8% to 10.13 million bags.

Robusta exports increased by 3% to 30.65 million bags in October 2018 to May 2019 while Other Milds fell by 3% to 17.57 million bags.

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